Nexus Minerals Limited secured a highly prospective package of ground in the Eastern Goldfields in April 2015. The project, which covers 125km2, is located approximately 100km northeast of Kalgoorlie.View ASX Announcements
The combined Pinnacles Gold Project area covers 125km2 of highly deformed Archaean greenstone sequence of basalts, dolerites, and co-magnetic high-level intrusions. This mafic volcanic association is overlain by a series of medium to coarse grained volcaniclastic sandstones and subordinate felsic volcanic rocks. These greenstones have been intruded and disrupted by the forceful intrusion of a series of granitoid rocks. This geological and structural setting is considered to be highly prospective for gold mineralisation.
No historic workings exist on the tenement package.
The Pinnacles Project tenements cover approximately 125km2. The tenement area is immediately to the south of Saracen’s Carosue Dam mining operation, which includes the Karari underground gold mine, currently in operation. The Carosue Dam district exhibits a large scale mineralised hydrothermal gold system having produced multi-million ounces of gold to date, and still today contains >4Moz gold in regional resources.
The geological setting provides for a location between two large granite batholiths, where the basal sequence of basalt and dolerite is overlain by a volcanoclastic sedimentary sequence. Structurally, the Project is within a major regional shear zone, with the Yilgangi Fault (the southern extension of the Keith-Kilkenny Fault) and numerous large scale north-south regional structures evident. The district represents a large Archaean intrusion related alteration system that hosts significant gold mineralisation.
The Pinnacles project area is considered prospective for gold mineralization, and as such, regional geological, geophysical and structural interpretation was completed to enable targeted and focused auger surface geochemical sampling and RC drill programs over the most prospective areas identified.
GT6 Drill Results
26 holes were drilled at GT6 in the September 2017 program to test the surface calcrete anomaly, with ten of the drill holes containing anomalous intersections. The two drill holes drilled to the northeast of the main calcrete anomaly returned significant mineralised intersections of 24m @ 0.47g/t Au from surface (incl. 8m @ 1.15g/t Au) and 24m @ 0.46g/t Au from 20m (incl. 12m @ 0.71g/t Au). A 600m follow up RC drilling was undertaken in late December 2017 targeting extensions to the mineralised zone. Best results were 21m @ 0.88g/t Au, including 10m @ 1.66g/t Au (from 18m) and 22m @ 0.78g/t Au, including 14m @ 1.02g/t Au (from 9m). The drill results from the 2017 programs at GT6 provide the Company with encouragement to test the full 3km x 600m extent of the anomalous gold zone in 2018. The geological and mineralisation features exhibited to date are consistent with results returned from initial exploration programs at the Karari gold mine, 20 kilometers to the north, in the mid 1990’s.
GT5 and GT8 Anomaly Drill Results
The geology observed in GT5 drill holes included a series of sheeted quartz porphyry dykes, with sheared basalt contacts and disseminated sulphides. The mineralised intersections are observed at the weathering boundary, on the top of fresh rock. Follow up drilling results did not return any significant zones of mineralisation. No primary zones of mineralisation have been identified in drilling to date.
The best 4m composite sample received was 4m @ 19.74g/t Au, and the best 1m composite samples were 1m @ 20.53g/t Au and 1m @ 5.60g/t Au.
5 holes were drilled at GT8 to test the surface calcrete anomaly, with one drill hole containing an anomalous intersection.